Nifty Weekend Update...alert!!!!
Hey guys, currently nifty this week fall more then 4%, due to holidays FII are selling highly.
If you see the chart you can see nifty currently just above of 50WMA after huge selling pressure it still above the 50WMA, if this will break next week onwards we will enter a bear market for short term period, so in my opinion this is now a crucial moment so keep cash in hand for buying in the dip.
Another scenario if nifty will bounce break from this level or first breaking 50wma then trap all bears and then bounce back above 50WMA that will also good for nifty to continue its trend to 30K.
If you see the chart you can see nifty currently just above of 50WMA after huge selling pressure it still above the 50WMA, if this will break next week onwards we will enter a bear market for short term period, so in my opinion this is now a crucial moment so keep cash in hand for buying in the dip.
Another scenario if nifty will bounce break from this level or first breaking 50wma then trap all bears and then bounce back above 50WMA that will also good for nifty to continue its trend to 30K.
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